MetaSource Adds Fraud Audit Services to Growing Suite of Mortgage Solutions
The risk of fraud is never a small concern in the mortgage industry, but rising interest rates, unsettled market conditions, and increased digital operations have elevated the threat.
With refinance volume on a continuous decline and purchase loans making up the majority of transactions, industry insiders are predicting a rising risk of income and property fraud. HousingWire advises lenders to be hypervigilant, stating that the “need for caution intensifies given the expected increase in interest rates, which essentially puts consumers on a time limit for maximizing their purchase power”.
Protecting your business from mortgage fraud is not a simple undertaking, but leaving yourself exposed to undetected fraud has consequences that can include significant financial loss, compliance headaches, and business disruption.
Reducing the Risk of Mortgage Fraud
Mortgage fraud covers a broad range of schemes – from false information on borrower applications to complex crimes involving document fabrication, identity theft, banking, and wire fraud.
Fortunately, there are proven ways to safeguard your business. It starts with recognizing the risks and ensuring that vigilance and mortgage QC are built into your processes.
An experienced mortgage risk assessment partner with the right technology for keeping track of reports and key metrics can dramatically simplify the effort and help you protect your organization.
Shielding Your Organization from Fraud Losses
MetaSource is now that partner! The MetaSource team is pleased to announce that we have added mortgage fraud audit services to our list of mortgage solutions.
According to Mary Kladde Walraven, MetaSource’s Executive VP of Mortgage Solutions, this addition couldn’t have come at a better time. “Fraudulent activity is more common during times of uncertainty, and it’s crucial that lenders take a proactive stance,” Walraven said. “An effective defense requires experience, expertise, and digital tools that provide enhanced security and visibility.”
And that’s exactly what MetaSource’s fraud audit services are built on. Our services include:
- Forensic Fraud Risk Assessment: MetaSource’s forensic fraud risk assessment includes both reporting and standard appraisal reviews with field reviews provided upon request.
- Fraud Examination Interpretation: Conducted by experts dedicated to studying fraud trends, our fraud examination interpretation service includes reporting and standard appraisal reviews. Field reviews are available upon request.
- Sophisticated reporting software: visibility and reporting of key data lie at the heart of effective fraud prevention, which is why MetaSource provides a proprietary mortgage QC software solution that offers complete transparency: QLink™. With QLink, you can easily track key metrics that can alert you to issues and the need for additional scrutiny.
Your Partner in Mortgage Fraud Risk Mitigation
MetaSource takes risks to your business seriously. With a full suite of mortgage QC solutions along with workflow automation tools and services, MetaSource can help you streamline your processes and protect your business, resulting in efficiency and peace of mind.
Start being more vigilant against the threat of mortgage fraud with solutions from the mortgage experts at MetaSource.